PACE
Introduction PACE Development Corporation PLC is a Thai residential property development and retail company specializing in high-end residential real estate and gourmet retail. [1] Founded in 2004 and headquartered in Bangkok, the company has developed residential and mixed-use projects including Ficus Lane, Saladaeng Residences, MahaNakhon, The Ritz-Carlton Residences, Bangkok, MahaSamutr, WINDSHELL Naradhiwas and NIMIT Lumpini Park North. PACE was listed on the Stock Exchange of Thailand from 2013 to 2024.[1][2][3]
History
PACE was founded as Cinkara Company Limited in 2004 by Sorapoj and Chotipol Techakraisri. The company initially focused on high-end residential development in Bangkok, beginning with Ficus Lane and followed by Saladaeng Residences.[2] The company was listed on the Stock Exchange of Thailand in August 2013 under the ticker symbol PACE. During the following years, PACE expanded its property portfolio and acquired the gourmet food retailer DEAN & DELUCA in 2014.[4] PACE developed MahaNakhon, a mixed-use development comprising The Ritz-Carlton Residences, Bangkok, a hotel, retail space and an observation deck. The tower was completed in 2016. In 2018, PACE sold substantial assets associated with the development to King Power in a transaction valued at approximately 14 billion baht.[5][6][7] Following a period of financial restructuring and business rehabilitation proceedings, PACE’s listing on the Stock Exchange of Thailand ended on 2 July 2024.[3][8]
Developments
Ficus Lane
Ficus Lane was launched in 2004 through a holding company of PACE and completed in 2007. The seven-storey residential development on Sukhumvit 44/1 comprises 70 units.[2]
Saladaeng Residences
Launched in 2009, Saladaeng Residences is a 25-storey condominium development on Saladaeng Soi 1 comprising 132 residences. The development was subsequently sold out.[2]
MahaNakhon and The Ritz-Carlton Residences, Bangkok
MahaNakhon, a 314-metre mixed-use tower in Bangkok’s central business district, was developed by PACE and designed by Büro Ole Scheeren Group through HLS. The development included The Ritz-Carlton Residences, Bangkok, a hotel, retail space and an observation deck. Construction began in 2011 and the tower was completed in 2016.[7] In 2018, PACE sold substantial assets associated with MahaNakhon to King Power. PACE remains identified as the original developer of the project, which was subsequently renamed King Power Mahanakhon.[5][6]
WINDSHELL Naradhiwas
WINDSHELL Naradhiwas is a 28-storey residential development on Naradhiwas Rajanagarindra Road comprising 36 residences, all of which have been sold. Developed by YLP Co., Ltd., the project was conceived as a “Tropical Stacking Home”, combining features of a private home with high-rise condominium living.[9][10]
MahaSamutr
MahaSamutr is a country club and luxury villa development in Hua Hin, comprising 80 villas built around a man-made crystal lagoon.[11]
NIMIT Lumpini Park North
NIMIT Lumpini Park North, formerly referred to as NIMIT Langsuan, is a 54-storey freehold residential development by PACE on Langsuan Road, overlooking Lumpini Park and the Royal Bangkok Sports Club.[12][13]
DEAN & DELUCA
PACE acquired global ownership of DEAN & DELUCA in 2014 as part of its expansion into the premium food and lifestyle sector. The brand’s U.S. entities completed Chapter 11 restructuring in 2021. PACE continues to own DEAN & DELUCA and license the brand internationally, with licensed operations in Hawaii and markets across Asia and the Middle East. In Thailand, PACE operates the brand through its subsidiary, DEAN & DELUCA Asia (Thailand) Limited, with restaurants, cafés and airport outlets in Bangkok and Phuket.[1][4][14][15][16][17][18]
External links • PACE Development corporate website • NIMIT Lumpini Park North
This article "PACE" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:PACE. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
- ↑ 1.0 1.1 "Thailand Leading Property Developer Pace Development Corporation Bangkok". www.pacedev.com.
- ↑ 2.0 2.1 2.2 2.3 Katharangsiporn, Kanana (November 15, 2012). "Pace goes residential to enable listing" – via www.bangkokpost.com.
- ↑ 3.0 3.1 "SET delists securities of PACE from being listed securities and allows trading during June 21 - July 1, 2024 by purchasing with Cash Balance Account - The Stock Exchange of Thailand". www.set.or.th.
- ↑ 4.0 4.1 "Dean & DeLuca sold for $140 million to Thai developer". Restaurant Business.
- ↑ 5.0 5.1 https://www.reuters.com/article/world/parts-of-thailand-s-tallest-building-sold-to-retailer-king-power-in-450-million-idUSKBN1HI0ZZ/
- ↑ 6.0 6.1 Limited, Bangkok Post Public Company (April 11, 2018). "Parts of MahaNakhon sold to King Power in B14bn deal" – via www.bangkokpost.com.
- ↑ 7.0 7.1 Limited, Bangkok Post Public Company (May 9, 2016). "Towering in Thailand: Pace chief reflects on his firm's ascent" – via www.bangkokpost.com.
- ↑ Sangwongwanich, Pathom (May 6, 2020). "Court accepts Pace's petition" – via www.bangkokpost.com.
- ↑ https://propholic.com/prop-talk/%E0%B8%82%E0%B9%89%E0%B8%AD%E0%B8%A1%E0%B8%B9%E0%B8%A5-%E0%B9%82%E0%B8%84%E0%B8%A3%E0%B8%87%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%A7%E0%B8%B4%E0%B8%99%E0%B8%94%E0%B9%8C%E0%B9%80%E0%B8%8A%E0%B8%A5%E0%B8%A5/#google_vignette
- ↑ "Windshell Naradhiwas | Real Estate". kellerhenson.com.
- ↑ https://bulthaup.com/en/faq-items/maha-samutr-luxury-villas-hua-hin-thailand-2017/
- ↑ "Nimit". Nimit.
- ↑ "NIMIT Lumphini Park North · Embark Estate". embarkestate.com.
- ↑ "Dean & DeLuca Emerges From Bankruptcy". Progressive Grocer. February 16, 2021.
- ↑ Nattayai, Nittaya (June 10, 2015). "Pace gears up for Dean & Deluca global expansion" – via www.bangkokpost.com.
- ↑ "LOCATION - DEAN & DELUCA HAWAII". August 24, 2017.
- ↑ "ABOUT US". https://www.deandeluca.co.th/. External link in
|website=(help) - ↑ "LOCATIONS". https://www.deandeluca.co.th/. External link in
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